The Guardian: Afghans face economic ruin as prices rise and cash runs low
Experts warn of hyperinflation and growing poverty, with money transfers from abroad suspended Afghanistan is facing a potentially catastrophic perfect storm of bank closures and shortages of hard currency on top of the suspension of money transfers by companies that sustain the key flow of remittances to Afghans from abroad by family members.
With ATMs in cities emptied, and banks and the main Sarai Shahzada financial exchange in Kabul still closed, the country has faced a series of economic shocks since the Taliban seized power a week ago.
Without access to $9bn (£6.6bn) in frozen central bank reserves, which are held in the US, and with a crucial delivery of dollars cancelled as the former government collapsed, ordinary Afghans are already confronted with rising prices for basic goods as the value of the afghani has dropped even as they have started to run low on cash.
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Update: UN warns Afghanistan faces 'absolute catastrophe' of famine, homelessness and economic ruin as Tory MP says organization MUST be brought in to deal with Kabul airport chaos (Daily Mail)
WNU Editor: This is how the Taliban will manage Afghanistan's economy .... Despite billions of dollars frozen, here's how the Taliban will run Afghanistan (Business Insider).
